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Real Estate Glossary

Incubator

This is an economical development specifically created and designed to support up-and-coming or new businesses. Incubators typically provide a lab or office space for free at a discounted price in buildings that are leased or...

Real Estate Glossary

Closing costs

This refers to the costs the buyer needs to pay at the time of the closing. Closing costs can depend from one financial institution to another. They are in addition to the downpayment, which may include title charges, the credit...

Real Estate Glossary

Equity

This is the fair market value of an asset less the value of any liabilities on the asset. It is commonly used to define the value of a property and help in the purchasing of a new one. Equity is taken into account when taking out...

Real Estate Glossary

Defeasance

This is the process of a borrower being released from their debt obligation by exchanging the lien on the site with a suitable replacement collateral, which is usually treasury bonds. The replacement is anticipated to generate a...